HSBC Taps Into Virtual Reality With Metaverse Portfolio For Rich Asian Clients
NDTV
HSBC has launched a fund to capture investment opportunities in the metaverse for its wealthy clients in Hong Kong and Singapore.
HSBC Holdings has launched a fund to capture investment opportunities in the metaverse for its wealthy clients in Hong Kong and Singapore as financial services companies tap into Silicon Valley's new virtual reality.
On Wednesday, HSBC said its Metaverse Discretionary Strategy portfolio, managed by its asset management arm, will focus on investing within the metaverse ecosystem across five segments - infrastructure, computing, virtualisation, experience and discovery, and interface.
"The metaverse ecosystem, while still at its early stage, is rapidly evolving," said Lina Lim, regional head of discretionary and funds for investments and wealth solutions, Asia Pacific, at HSBC. "We see many exciting opportunities in this space as companies of different backgrounds and sizes flock into the ecosystem."
The metaverse comprises a network of virtual environments accessed via different devices where users can work, socialise and play. It has come into sharper focus since Facebook changed its name to Meta last year to reflect its bet on the sector.
